Economy

S. Korea Maintains Top Position in Global Ship Order in Sept.

South Korea has retained its top spot in monthly global ship orders over China.

According to British maritime market analyst Clarksons Research on Wednesday, South Korean shipbuilders won ship orders totaling one-point-46 million compensated gross tons(CGTs) last month.

Compensated gross tons, or CGTs, are a measurement of how much work is needed to build a ship, and also provide a measuring stick for global shipbuilding demand.

China came in second with 890-thousand CGTs, followed by Japan at 260-thousand.

China still led in cumulative global ship orders for the first nine months of this year at five-point-09 million CGTs, compared with South Korea’s five-point-04 million. Japan was a distant third at one-point-47 CGTs.